If two nations were identical:
A) both nations would benefit from trade
B) trade could result in higher income for everyone
C) no trade would take place
D) comparative advantage would result in specialization and trade
Correct Answer:
Verified
Q5: California agriculture is the most productive in
Q6: Local food is a good example of:
A)
Q7: Absolute advantage is:
A) lowest opportunity costs
B) political
Q8: Comparative advantage is:
A) lowest opportunity costs
B) political
Q9: Trade occurs due to:
A) arbitrage
B) differences in
Q11: Trade will have the largest impact when:
A)
Q12: Agricultural trade with the US is most
Q13: Workers with good people skills will benefit
Q14: The theory of comparative advantage is due
Q15: The theory of absolute advantage is due
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